The European Commission has proposed legislation to “ensure full traceability of crypto-asset transfers, such as bitcoin,” in order to prevent and detect “their possible use for money laundering or terrorism financing.” Moreover, “anonymous crypto asset wallets will be prohibited.”

New EU Rules Ban Anonymous Crypto Transactions and Wallets

The European Commission presented a set of legislative proposals Tuesday aimed at strengthening the EU’s anti-money laundering and countering terrorism financing (AML/CFT) rules. Among the proposals is a revision of the 2015 Regulation on Transfers of Funds “to trace transfers of crypto-assets.”

The proposals take into account “new and emerging challenges linked to technological innovation,” including “virtual currencies, more integrated financial flows in the Single Market and the global nature of terrorist organisations,” the Commission explained.

At the heart of the proposed…

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Source: https://news.bitcoin.com/eu-proposes-law-to-ensure-full-traceability-of-crypto-transfers-ban-anonymous-wallets/